The European common currency has fallen to its lowest level since four weeks against the US Dollar on Thursday as shares fell across the region.

The stock markets were weaker in Europe ahead of a key European Central Bank meeting.  Analysts have said that the European leaders are not expected to change interest rates yet while economic forecasts for the troubled region might be changed at the meeting.  This has affected investor sentiment as the prolonged financial crisis continues to impact several economies in eth region.

The Euro was trading at $1.3127, which is the highest level for the exchange rate since May 9 and the increase resulted in the dollar index to fall to 82.394, which is its lowest level in four weeks.  The broad FTSEurofirst 300 index continued to fall on Thursday after a fall of 1.5 per cent on Wednesday and fell 0.1 per cent in early trade today.  The index has risen 6 per cent during the year so far.

Investors will be keenly watching as Mario Draghi, the president of the European Central Bank is being questioned about the central bank's policy to buy bonds to calm markets in the region.